Ispire Technology (NASDAQ:ISPR) Given “Buy” Rating at Roth Mkm

Ispire Technology (NASDAQ:ISPR)‘s stock had its “buy” rating reissued by stock analysts at Roth Mkm in a research report issued on Thursday,Benzinga reports. They currently have a $9.00 price objective on the stock. Roth Mkm’s price objective points to a potential upside of 183.91% from the company’s previous close.

Ispire Technology Stock Up 0.6 %

NASDAQ ISPR opened at $3.17 on Thursday. Ispire Technology has a twelve month low of $2.89 and a twelve month high of $9.76. The company has a market cap of $180.98 million, a price-to-earnings ratio of -7.73 and a beta of 2.78. The business’s fifty day moving average is $4.37 and its 200 day moving average is $5.58.

Ispire Technology (NASDAQ:ISPR) last released its quarterly earnings data on Friday, February 7th. The company reported ($0.14) earnings per share for the quarter, missing the consensus estimate of ($0.07) by ($0.07). Ispire Technology had a negative net margin of 15.46% and a negative return on equity of 73.44%. On average, research analysts anticipate that Ispire Technology will post -0.44 earnings per share for the current fiscal year.

Ispire Technology declared that its Board of Directors has approved a stock buyback program on Wednesday, January 22nd that authorizes the company to buyback $10.00 million in outstanding shares. This buyback authorization authorizes the company to repurchase up to 4% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Wells Fargo & Company MN lifted its stake in shares of Ispire Technology by 51.7% in the 4th quarter. Wells Fargo & Company MN now owns 8,976 shares of the company’s stock valued at $45,000 after purchasing an additional 3,060 shares during the period. SG Americas Securities LLC bought a new stake in Ispire Technology in the 4th quarter valued at about $54,000. Intech Investment Management LLC bought a new stake in Ispire Technology in the 4th quarter valued at about $60,000. MetLife Investment Management LLC increased its position in Ispire Technology by 137.6% in the 3rd quarter. MetLife Investment Management LLC now owns 11,764 shares of the company’s stock valued at $73,000 after buying an additional 6,812 shares in the last quarter. Finally, Zacks Investment Management bought a new stake in Ispire Technology in the 3rd quarter valued at about $96,000. 5.00% of the stock is owned by institutional investors and hedge funds.

Ispire Technology Company Profile

Ispire Technology Inc researches, develops, designs, commercializes, sales, markets, and distributes e-cigarettes and cannabis vaping products worldwide. The company was founded in 2019 and is based in Los Angeles, California. Ispire Technology Inc operates as a subsidiary of Pride Worldwide Investment Limited.